Board Decisions

GF/B31/DP04

Approved by the Board on: 07 March 2014

2014 Operating Expenses Budget

Based on the recommendation of the Finance and Operational PerformanceCommittee (the “FOPC”), the Board approves the 2014 operating expenses budgetin the amount of USD 298.8 million, as set forth in GF/B31/03 Part A (the “2014Operating Expenses Budget”), which includes USD 20.5 million for the Office ofthe Inspector General’s 2014 operating expenses.

As previously decided by the Board (GF/B22/DP18), the Secretariat willmanage the 2014 Operating Expenses Budget’s exposure to foreign-exchange ratevolatility and include in its periodic reporting to the FOPC on budget mattersany measures taken to minimize such exposure.

Budgetary Implications

This decision’s impact on the 2014 operating expenses budget is USD 298.8 million.